Posts tagged ‘Death of Newspapers’

Media General Inc. will take a loss in the first quarter as it looks to sell four television affiliates.

The corporate parent of The Tampa Tribune and WFLA-Channel 8 reported a net loss of $20.3 million, or 91 cents per share, compared to a $6.5 million, or 27 cent per share, loss experienced the quarter before. Revenue was down 10.9 percent from $218.3 million in the first quarter of 2006 to $194.5 million this quarter.

“Although the Post-Dispatch is performing relatively well, especially compared with other metropolitan newspapers, we believe it is prudent to dial back our expenses modestly,” Kevin Mowbray, publisher of the Post-Dispatch, said in a statement.

Broadcasting revenue slipped 6 percent to $57.2 million. Television revenue slid 5.9 percent for the month on declines in local and national revenue. The company said increased political advertising was offset by weaker economic conditions and the absence of Super Bowl-related ad demand for CBS affiliates. The Super Bowl aired on Fox this year.

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NEVER AGAIN!

"The American media....is free to differentiate between the torture of Abu Ghraib Prison and the beheading of innocent hostages. The fact that they shamelessly tilt their coverage toward the horrors of Abu Ghraib while underplaying the beheadings, accompanied by internet gloating, sends a message something akin to: Well, if you're going to force an Islamic prisoner to put women's panties on his head you may as well go ahead and cut it off. It really amounts to just about the same thing!" ~ Barry Farber